Friday, March 20, 2015

EIA Natural Gas Supply/Demand Report

Front futures $2.871 up 5.8 cents.
From the Energy Information Administration:
...Production year-over-year rises nearly 9%. Gross natural gas production (which includes oil-like constituents) and dry gas production are up 8.8% and 8.7%, respectively, compared with last year at this time. Over the past week, total natural gas supply increased 0.5%. With moderate near-spring temperatures for most of the report period, imports from Canada saw a net decline of 1.4%. Sendout of regasified LNG from port terminals also declined from last week. The net increase in supply was driven by production, which increased by 0.8% in the past week.

Consumption declines as shoulder season begins. Gas consumption has fallen in all sectors this report week, led by the residential/commercial sector. Total domestic consumption fell 16.9% week-over-week, and is now nearly 11% lower than this week last year. Residential/commercial consumption fell by nearly one third, or 31.1%. Industrial consumption declined 4.7%, and consumption of gas for electric power generation (power burn) fell 4.4%. Power burn decreased in most regions, falling 20.3% in Texas and 19.0% in the Midcontinent. Notably, it increased 21.1% in the Southwest....MUCH MORE

U.S. consumption - Gas Week: (3/11/15 - 3/18/15)

Percent change for week compared with:
last year
last week
U.S. consumption
-10.9%
-16.9%
Power
22.4%
-4.4%
Industrial
-5.6%
-4.7%
Residential/commercial
-29.5%
-31.1%
Total demand
-10.3%
-16.8%